Costa Rica Real Estate, Del Pacifico at Esterillos

Seaside Town, Tropical Soul


Can non-Costa Rican citizens own real estate in Costa Rica? 
Yes. The constitution of Costa Rica grants and protects the rights of foreigners to own land in Costa Rica. Regardless of your nationality, as a landowner you will have the same rights as the citizens of Costa Rica.  

Is bank financing available? 
Yes, there is bank financing available in Costa Rica. Current rates are running from 8% to 8.5% with a 60% loan to value. Our staff can assist you in setting up a mortgage with a local Costa Rican bank. Some of our current residents have found it more favorable to get a second mortgage on their house in their home country and use the cash to purchase property in Costa Rica.

What are the payment terms for purchasing in Del Pacifico at Esterillos? 
For all properties there is a 10% reservation fee, that takes the property off the market while the contracts are exchanged & negotiated. 

For properties under construction the payment plan is : 
10% deposit to reserve the property 
35% at contract signing 
33% on completion of roof structure 
22% upon completion with a punch list hold-back of 10% of the final payment 

What is a maritime concession zone property? 
The Costa Rican government has designated all coastal areas as public areas, as such the first 50 meters (about 54 yards) from high tide is considered public property and no permanent structures can be erected upon it.  Another 150 meters (about 165 yards) from the 50 meter zone is owned by the municipality and leased to the owner. A Costa Rican national must own more than 50% of the company leasing the land- a foreigner may not lease the land personally.

Is title insurance available in Costa Rica? 
Yes, title insurance is available. We have used Stewart Title in the past but Chicago Title also practices in Costa Rica. These are US companies issuing policies in Costa Rica with the policies adjudicated in US courts.

Everyone here seems to sell real estate- what's that about? 
Costa Rica does not have a licensing requirement for realtors. As a result, there is no governing body to regulate their actions. If you choose to use a realtor, we would recommend seeking out a personal recommendation or checking with the Chamber of Commerce before hiring a realtor to represent you.

Do you work with US or Canadian realtors? 
We have relationships with several US realtors. If you would like to register as a Del Pacifico realtor, please send us an email.

Can I design my own house? 
You are free to use your own architect should you choose. However, Del Pacifico does have certain external design codes that need to be respected to ensure an overall community look that is cohesive and luxurious. However, we do have an in-house architectural team who will work with you to design the home you imagine. We can take your dreams and make them a reality!

What is the National Registry? 
The Registro Nacional de Costa Rica (national registry) is a database that catalogs every property in Costa Rica. It is accessible online so it is quite simple to check that a property has clear title and whether any liens or encumbrances exist.

What are settlement costs? 
It depends upon how you would like to purchase your real estate. At Del Pacifico we have each property owned in a separate corporation specifically for that property. If you would like us to transfer the title from that corporation to your name or to a corporation of your own, then the transfer taxes all in are about 4% of the sale price of the property. 

The other option, is that you purchase the shares in the corporation from Del Pacifico and we transfer the corporation to you. In this case, the closing costs end up being about $250. 

How much are property taxes? 
Property taxes are .25% of the registered value of the property. The tax is paid to the municipality and can be paid annually or quarterly.  There is a second tax, the luxury property tax, which applies only to built structures (not to raw land). This tax rate is tiered and runs from 0.25% to 0.55% of the market value of the property. This tax is paid every January to the Ministry of the Finance (La Hacienda) and the proceeds from the tax, which is called the Solidarity Tax, will be used to provide better housing to the poor.

Are these properties titled in fee simple? 
All of our residential offerings are whole ownership purchases and the land is held in fee simple. As an owner of real estate in Costa Rica you will hold full title. 

Is there a rental program? If so how does it work? 
Yes, we have a rental program available to all Del Pacifico owners. Del Pacifico handles the marketing of your property, reservations and all services for vacationers in exchange for a percentage of the gross room rate. For more information about the rental program, please contact us.